The story of this market
The typical home in ZIP 38965 sells for about $104,773, or $85 per square foot.
Prices are down 13.3% from a year ago, which gives buyers more room to negotiate. Homes take about 92 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $645 a month.
ZIP 38965 — Water Valley
The housing market in 38965 is currently experiencing a cooling phase with a year-over-year decline in home values. Limited inventory and low sales volume suggest a cautious market environment for both buyers and sellers.
This ZIP is best suited for families and individuals seeking a quiet, rural lifestyle with a lower cost of living compared to nearby university towns.
Median prices moved down 13.3% year over year.
Homes spend a median of 92 days on market with 9.0 months of supply — a slower-moving market.
12% of listings have cut prices · homes sell at 96% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 2.5% · poverty 18.9% — a stable, low-distress profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 3.3%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 2.9%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
ZCTA 38965, Yalobusha County MS
Schools in the area are primarily served by the Water Valley School District, which maintains a modest local reputation.
The area is subject to standard regional flood and wind risks common to northern Mississippi; insurance premiums are stable but sensitive to severe weather events.
Economic momentum is largely driven by local agriculture and small-scale manufacturing, with limited large-scale industrial development currently reported.
Property taxes are assessed at the county level by Yalobusha County; rates are generally low compared to national averages, with standard homestead exemptions available for primary residences.
Commutes are primarily car-dependent, with residents typically driving to nearby employment hubs in Oxford or Batesville.
The area offers access to outdoor recreation including local parks and proximity to Enid Lake for fishing and boating.
The rental market is characterized by low inventory and steady demand, with limited new multi-family construction.
The local economy is anchored by agriculture, forestry, and small-scale manufacturing, with many residents commuting to larger regional centers for employment.
No major large-scale commercial or residential developments are currently reported for this ZIP code.
Parcels are subject to standard county and school district tax levies; no major MUD or PID districts are reported.
Property insurance remains stable, though the area is subject to standard regional weather-related risk assessments.
Data retrieved from US Census Bureau ZCTA profiles and Data Commons.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
Local community park providing green space and recreational facilities.
Nearby reservoir offering fishing, boating, and camping opportunities.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.